Cadillac's new luxury sedan, the XTS, was launched yesterday in Guangzhou. Available in five variants priced from 349,900 yuan?to 569,900 yuan ($56,195 to 91,527),?the new model also offers two engine options (a 2.0T engine and a 3.6L engine), five exterior colors and two interior colors.

Cadillac's XTS is seen at a launching ceremony on Feb 25, 2013 in Guangzhou. [Photo / Xinhua]

"The launch of the XTS reflects Shanghai GM's effort to expand its presence in the Chinese luxury car segment. Our aim is to increase Cadillac sales to more than 100,000 units by 2015 and its share of the premium car segment to 10 percent by 2020." said Shanghai GM President Ye Yongming at launch ceremony.

According to the Shanghai GM, Cadillac intends to expand its distribution network, with the number of dealerships expected to reach 250 by 2015. In addition, it plans to set up an independent manufacturing facility and experience center to meet the growing demand for its vehicles and to enable Chinese consumers to get up close and personal with the luxury brand.